Barcelona has announced that they can afford to spend at least 45 million euros on transfers this summer.
The Catalan club’s vice-president for economic affairs, Javier Faus, made the declaration on Wednesday and added that it could rise further depending on their summer sales.
"[Barcelona has] 45 million euros for transfers, plus the money that can be obtained from sales [of players] in the close-season,” he is quoted as saying by the club’s official website. “When we speak about sales we will only consider those that are beneficial to the club."
He added: "The Spanish Supercup [to be played against Real Madrid in August] would bring in some three million euros of extra income.”
Faux also announced that the Spanish and European champions have reduced their pre-tax loss to around 21 million euros in the year to the end of June and added that while revenue during this period was 420 million euros, the spending was trimmed from 495 million euros to 441 million euros
“We are delighted with that outcome," Faus enthused. "It is the best possible investment because Barca has never been as recognized in brand terms as it is now.”
Barcelona’s gross debt stands at around 483 million euros and the net debt is at 364 million euros, a fall from 532 million euros and 431 million euros respectively, and Faux wants more favorable figures at this time next year.
"There has been a very significant effort, which will continue over the next two years, to cut this debt,” he said. “For this board of directors, this milestone is unavoidable and cannot be waived."
“FC Barcelona lost 83 million euros last year and 21 million euros this year and it cannot allow itself to continue losing money."For more on Spain click ahead to Goal.com's Spain homepage and join Goal.com USA's Facebook fan page!